Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Furniture and Furnishings Procurement Market Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix of the facility management industry. This report breaks down the data and analysis behind the procurement of furniture and furnishings and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Furniture and Furnishings Procurement Market Intelligence Report (Graphic: Business Wire)
"A decrease in office and commercial space due to increasing urbanization has led to a demand for compact modular furniture by offices, thereby driving the market growth," says lead SpendEdge procurement analyst Angad Singh. "Seating furniture is the most consumed product type, primarily due to its shorter life cycle," added Angad.
Key Report Features
Supply Market Insights | Negotiation Strategies | |
Procurement Best Practices | Category Risk Analysis | |
Cost Saving Opportunities | Key Supplier Analysis | |
Pricing Models | Supplier Capability Matrix |
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Report Highlights
- Increasing demand for customized furniture and furnishings that help buyers highlight their individuality and uniqueness of their interior spaces.
- Suppliers need to adopt sustainable practices such as sourcing wood from managed forests and use natural resins to appeal to the growing environmental awareness among the consumer demographic.
- Buyers need to confirm the life expectancy of a product by drawing contracts with the suppliers which make them accountable in case of liabilities.
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Furniture and Furnishings Pricing Trends
Buyers of furniture and furnishings may adopt either the fixed fee or the quantity based pricing model. The fixed fee model is the more adopted pricing model where the clients pay a fixed price for products and services offered by suppliers, and contracts need to be renegotiated. The model provides additional advantages such as easy implementation and effective comparison across providers to aid buyers in decision-making processes.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
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